At the recently concluded China Development Forum in Beijing, top executives from multinational corporations, international investors, and scholars gathered to explore the latest trends in China's economy and opportunities for global collaboration. Despite pessimistic or biased portrayals of China's economic outlook in some Western media, many global CEOs demonstrated their confidence through action-by attending the forum and committing to further investments in China.
Premier Li Qiang underscored China's commitment to high-level opening-up and to creating a more stable, fair, and predictable business environment for foreign investors. Global giants such as Tesla, BMW, and Siemens continue to operate major R&D and manufacturing facilities in China. As of 2024, over 1.2 million foreign enterprises are operating in China, with total foreign direct investment reaching around 20 trillion yuan.
The forum also highlighted the growth momentum in China's high-tech sector. Premier Li cited innovative AI companies like DeepSeek in Hangzhou as new drivers of economic growth. Apple CEO Tim Cook praised DeepSeek's performance, while pharmaceutical giant AstraZeneca announced a US$2 billion R&D investment in Beijing—further evidence that China is becoming a global hub for innovation.
Hong Kong also plays a strategic role. Financial Secretary Paul Chan noted at the forum that Hong Kong can leverage its status as a global financial hub to provide high-value financing services for Mainland enterprises and attract more foreign investment into China.
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